Wednesday, December 17, 2008

Dreier LLP law firm seeking bankruptcy protection

Plotline for a future Law & Order? From Prosecutors accused Marc Dreier of posing as if he were peddling heavily discounted investments in a New York City real estate development company because original investors, damaged by the world's financial crisis, were backing out. The SEC said Dreier created an elaborate charade to convince three hedge funds that the investments were real. One hedge fund sent $13.5 million to Dreier while another wired $100 million, authorities said.


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